tag:blogger.com,1999:blog-1937088411451927836.post4955548250507248167..comments2024-03-27T14:30:21.480+05:30Comments on India of My Dreams: One rank, one pension scheme pushes up defence pension billINDIA OFMY DREAMShttp://www.blogger.com/profile/08354654681348443147noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-1937088411451927836.post-73933544729439796312014-11-20T17:30:35.566+05:302014-11-20T17:30:35.566+05:30i would like to get more information on these arti...i would like to get more information on these article please mail me on chacko@q8living.comAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-1937088411451927836.post-42772761873740085762014-11-11T18:02:53.009+05:302014-11-11T18:02:53.009+05:30isn' t it like putting the cart before the hor...isn' t it like putting the cart before the horse. although the Hon. PM had mentioned that it has been given, we are yet to see its implementation. <br />probably the new Defence minister will implement it soon.<br />Lets hope that the waiting period is over soon.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1937088411451927836.post-91213817223332723672014-11-05T16:13:23.145+05:302014-11-05T16:13:23.145+05:30prove how pension bill is hiked by 40 %
In his int...prove how pension bill is hiked by 40 %<br />In his interim budget speech, Finance Minister P Chidambaram announced that the defence budget was being raised to Rs. 2,24,000 crore.<br /><br />"Rs. 500 crore will be transferred in 2014-15 for implementing the one rank one pension decision," he added.<br /><br />Under the "one rank, one pension" rule, retired soldiers of the same rank and length of service will receive the same pension, regardless of when they retire. Currently, pensioners who retired before 2006 receive less pension than their counterparts, even their juniors.<br />col lambanoreply@blogger.comtag:blogger.com,1999:blog-1937088411451927836.post-9691106025037433872014-11-05T16:10:12.448+05:302014-11-05T16:10:12.448+05:30Allocation for defence in this year’s General Budg...Allocation for defence in this year’s General Budget has been raised to Rs 2,29,000 crore. Presenting the Union Budget in Lok Sabha today, the Union Finance Minister Shri Arun Jaitley also proposed a further sum of Rs 1,000 crore to address the pension disparities while implementing the policy of “one rank one pension” for soldiers.<br /><br />Emphasizing on the modernization of the armed forces to enable them to play their role effectively in the defence of country’s strategic interests, the Finance Minister also proposed to increase the capital outlay for defence modernization by Rs 5,000 crore over the amount provided for in the interim Budget. This includes a sum of Rs 1,000 crore for accelerating the development of the Railways system in the border areas. He said urgent steps would also be taken to stream line the procurement process to make it speedy and more efficient.<br />col lambanoreply@blogger.comtag:blogger.com,1999:blog-1937088411451927836.post-46311134648378320192014-11-05T16:08:22.190+05:302014-11-05T16:08:22.190+05:30Share of Defence Services
The Army with an approx...Share of Defence Services<br /><br />The Army with an approximate budget of Rs. 99,707.8 crore accounts for 49 per cent of the latest defence budget, followed by the Air Force (Rs. 57,502.9 crore), Navy (Rs. 36,343.5 crore), Defence Research and Development Organisation (Rs. 10,610.2 crore) and Ordnance Factories (- Rs. 508.7 crore) (see Figure I). It is noteworthy that compared to the previous budget, the Air Force is the only service which has increased its share in the total defence allocation (from 24.9 per cent to 28.2 per cent). The Navy’s share has decreased the most (by 1.4 percentage points), whereas the Army’s and DRDO’s shares have declined by 1.3 and 0.3 percentage points, respectively. It is also noteworthy that except for the Air Force, which has seen an increase in both the revenue expenditure and capital expenditure, the others have a decline in one of these heads.<br /><br />Figure I: %Share of Services in Defence Budget 2013-14<br /><br /><br /><br />Note: Share of services is exclusive of the Rs. 16.5 crore allocated under the heads of ‘Inspection’, ‘Prototype development under Make Procedure’ and ‘Others’.<br />col lambanoreply@blogger.comtag:blogger.com,1999:blog-1937088411451927836.post-50082550731934336372014-11-05T16:07:31.925+05:302014-11-05T16:07:31.925+05:30Defence Budget 2013-14: Key Statistics
With the m...Defence Budget 2013-14: Key Statistics<br /><br />With the modest growth in the new defence budget, its key indicators show a downward revision except for the percentage share of the capital expenditure in the total defence budget (see Table I). Of note is the further decline of the share of the defence budget in GDP, which is now the lowest over the past five decades since 1961-62 when it was only 1.66. <br /><br />Table I: Comparative Statistics of Defence Budgets, 2011-12 & 2012-13<br /><br /> 2012-13 2013-14 <br />Defence Budget (Rs. in Crore) 1,93,407.29 2,03,672.12 <br />Growth of Defence Budget (%) 17.63 5.31 <br />Revenue Expenditure (Rs. in Crore) 1,13,828.66 1,16,931.41 <br />Growth of Revenue Expenditure (%) 19.55 2.73 <br />Share of Revenue Expenditure in Defence Budget (%) 58.85 57.41 <br />Capital Expenditure (Rs. in Crore) 79,578.63 86,740.71 <br />Growth of Capital Expenditure (%) 15.00 9.00 <br />Share of Capital Expenditure in Defence Budget (%) 41.15 42.59 <br />Share of Defence Budget in GDP (%) 1.90 1.79 <br />Share of Defence Budget in Central Government Expenditure (%) 12.97 12.23 <br /><br />Note: Rs. 1.0 crore = Rs. 10 million = US$ 183,637.4 (as per the average exchange rate for the first 11 months of 2012-13)<br />col lambanoreply@blogger.comtag:blogger.com,1999:blog-1937088411451927836.post-83770237324793032062014-11-05T16:06:30.678+05:302014-11-05T16:06:30.678+05:30Defence Budget 2013-14: Negative Real Growth
The ...Defence Budget 2013-14: Negative Real Growth<br /><br />The modest increase in the defence budget comes in the wake of high inflationary and unfavourable exchange rate regimes. As the Economic Survey brings out, the average inflation rate during the first nine months of 2012-13 was high at 7.6 per cent and 10 per cent, measured in terms of Whole Sale Price Index (WPI) and Consumer Price Index-New Series (CPI-NS), respectively. Even assuming a one percentage reduction in annual inflation in 2013-14, which is quite optimistic, the real growth of the new defence budget is still in the negative – by 1.3 per cent and 3.7 per cent in terms of WPI and CPI-NS, respectively. The negative real growth in the defence budget is further worsened by a high exchange rate, particularly with respect to the US dollar which at Rs. 54.5 per unit is still 14 per cent higher than in 2012-13.<br /><br />The negative growth in the latest defence budget would not necessary affect all its elements in the same way. The salary portion of the budget, a significant portion of revenue expenditure, is more or less insulated with suitable periodic increase in dearness allowance. The most affected elements of the budget would be revenue works, transportation, and most importantly revenue stores and capital acquisition, which are critical for modernisation and preparedness.<br />col lambanoreply@blogger.com